It's been said that it costs five times more to attract a new customer than to keep an old one. Despite this, most businesses spend an enormous amount of time and effort chasing after new customers.
Why do things hard way? It is far more lucrative to reward good customers by simply encouraging them to remain loyal to your business. The first step to achieving this; is to build a good database and stay in contact with your customers and potential customers.
Here are some no-cost/low-cost marketing tips that almost any business can use to add customers to a database and put dollars in bank.
One idea is to build your customer database by offering a prize draw. As an incentive, you could give away a product or a special discount.
If you are running a retail store or office, you could place a jar or fishbowl on counter or reception desk for business cards. Then at end of each week or month, draw a winner.
Some customers won't have a business card. So, it's a good idea to have a stock of plain cards on hand for those people. Use brightly colored cards as they will add to excitment and attract attention to fishbowl. A local printing company will probably have some free off-cuts to use.
Another idea applies to when you offer specials to your customers. Whenever possible, take a note of their name, phone number and/or email address. The following month you can make these people another offer as a reward for taking up original offer. You'll find you get a high percentage of successful sales.
If you are operating over internet, offer a free report to build your database. Another idea is to offer a free mini-course or newsletter ezine. Thanks to wonders of technology, these can be delivered instantly over internet using an autoresponder.